Research

 

Equities

After rate cut, nothing exceptional for indices soon

 

The RBI did its surprise act yet again and cut repo rate by 25bps to 7.5%. Significant dip in inflationary pressures and moderation in core inflation and need to support economic growth prompted the move. To an extent, the policy document sounds like it is moving from a restrained approach to a dynamic one. Whether the central bank proactively pushes growth in ensuing meetings or not remains to be seen now. For the market, it was yet another swinging day. The indices hit new peaks and came crashing down. Again no point in attributing reasons but profit booking at higher levels and interpretations of a likelihood of a downgrade by a rating agency could have sparked some sell off. S&P official was quoted as saying that the Indian government has to deliver on reforms and the fiscal front for it to consider an upgrade.

 

 

The outlook is a weak start. The indices will look at taking support around these levels ahead of a Holi‐ day tomorrow. Global cues have nothing to encourage a start in the green. US jobs data is due tomorrow and ECB meeting later today will be in focus.

 

Technicals

Amara Raja Batteries (BUY, above Rs895, Target Rs925, SL Rs880):

Amara Raja Batteries on the dailychart has broken out of a consolidation zone above Rs895 leading to a pattern namely triangle breakout. This week, it has also broken out from its 20-DMA corroborating strength in the recent upmove. Lower trendline of the triangle becomes strong support for the stock. The amplitude of triangle projects target above Rs950 in the medium term. The daily RSI has also reinforces bullish trend in the counter and any declines is likely to be met with buying interest. (Duration 5 days)

 F&O Strategy : 

 ²  Buy RCOM March Fut Above 67.25 with SL of65.75 for target of 69.5/72

Lot size: 2000

Remarks: Net maximum profit of Rs 9500 and net maximum loss of Rs 3000.

 

Futures open interest gainers

 

Scrip

OI ('000)

% change

CMP (Rs)

% change

Volume ('000)

% change

Prem/Disc (Rs)

Eicher Motors

314

12.7

16,050

0.7

614

83.9

2.1

Jindalstel

27,601

12.6

190

(2.7)

21,561

73.6

1.3

Cairn

12,798

11.0

245

(4.0)

7,148

360.3

0.6

Jpassociat

135,136

7.9

28

7.4

154,248

464.4

0.1

Sunpharma

14,944

6.5

1,009

6.8

12,197

319.6

2.7

Iob

16,008

6.4

48

(5.0)

8,252

43.5

0.2

Sbin

89,275

6.3

296

(3.0)

103,413

123.6

1.6

Idea

17,402

4.9

157

1.7

8,738

220.8

0.7

Sail

44,316

4.7

67

(3.5)

7,556

68.8

(1.1)

Itc

63,583

4.2

347

0.8

38,095

44.9

2.7

Albk

10,880

4.1

107

(3.9)

8,366

6.4

0.5

 

Futures open interest losers

 

Scrip

OI ('000)

% change

CMP (Rs)

% change

Volume ('000)

% change

Prem/Disc (Rs)

Voltas

3,811

(12.0)

268

(2.2)

5,903

41.6

0.6

Pfc

4,682

(11.3)

293

(1.9)

5,316

(22.4)

0.4

Ashokley

66,752

(10.8)

72

(2.5)

74,016

33.6

0.3

Orientbank

4,410

(10.5)

247

(3.8)

5,694

7.2

0.5

Lichsgfin

8,988

(10.2)

491

(0.8)

10,316

49.0

1.0

Recltd

6,591

(10.1)

350

(3.0)

7,501

(1.0)

0.2

Colpal

486

(9.7)

1,978

(2.2)

198

(40.0)

(3.8)

Lt

7,718

(9.4)

1,842

(1.1)

6,182

35.8

4.1

Bpcl

2,691

(9.0)

772

(1.8)

2,208

1.6

1.3

Unitech

181,512

(8.9)

20

(2.0)

56,817

(24.2)

0.1

Suntv

931

(8.8)

423

(0.6)

848

37.2

1.8


 

Most active stock calls

 

Scrip

Strike

Expiry

OI ('000)

% change

CMP(Rs)

 

 

 

 

Sbin

310

Mar

5,095

46.3

4

 

 

Jpassociat

30

Mar

9,904

55.3

1

 

Sbin

320

Mar

5,086

51.4

3

 

Itc

360

Mar

3,682

38.7

6

 

Itc

350

Mar

3,047

23.8

9

 

Sbin

300

Mar

5,509

11.9

8

 

Sunpharma

1000

Mar

124

11.0

37

 

Reliance

900

Mar

726

(0.9)

17

 

Jpassociat

27

Mar

-

-

2

 

Sbin

330

Mar

2,713

85.9

2

 


 

Most active nifty calls

 

Strike

Expiry

OI ('000)

 

% change

CMP(Rs)

 

 

 

 

 

9200

Mar

8,119

 

(2.3)

31

 

 

9300

Mar

6,189

16.9

15

 

9100

Mar

7,345

7.8

59

 

9400

Mar

7,068

0.2

7

 

9000

Mar

8,091

(18.1)

99

 

9500

Mar

6,422

5.9

4

 

9600

Mar

1,380

6.0

2

 

8900

Mar

2,588

0.1

152

 

9700

Mar

891

1.8

2

 

10000

Mar

1,557

(9.7)

1

 


 

Most active stock puts

 

Scrip

Strike

Expiry

OI ('000)

% change

CMP(Rs)

 

 

 

 

Sbin

300

Mar

2,449

11.2

13

 

 

Sbin

290

Mar

1,606

43.9

8

 

Axisbank

600

Mar

788

(9.2)

15

 

Reliance

900

Mar

318

(1.0)

24

 

Lt

1800

Mar

219

21.5

35

 

Sbin

280

Mar

1,665

49.0

4

 

Reliance

880

Mar

411

18.7

16

 

Itc

340

Mar

1,998

12.3

6

 

Reliance

860

Mar

351

(5.8)

9

 

Itc

350

Mar

1,581

9.2

11

 

*OI= Open Interest


 

Most active nifty puts

 

 

Strike

Expiry

OI ('000)

 

% change

CMP(Rs)

 

 

 

 

 

9000

Mar

4,594

 

29.8

148

 

 

8900

Mar

3,864

(21.4)

103

 

8800

Mar

8,063

1.2

71

 

8700

Mar

6,184

11.1

47

 

8600

Mar

6,038

(9.1)

31

 

9100

Mar

1,156

52.3

204

 

8500

Mar

8,719

(0.0)

20

 

8400

Mar

3,996

(7.0)

13

 

8300

Mar

3,142

(11.0)

8

 

8200

Mar

2,415

2.3

6

 

 

Commodities

 

Currency

 

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